Economy of the European Union
Romania's economy has grown the fastest after 2000, but we have a tendency to press hard on the accelerator, not to be cautious and there is a slippage that means divergence, Mugur Isarescu, the governor of the National Bank of Romania (BNR) told a Monday's specialist conference. "We are now, at the end of the year, in the ninth year of economic growth.
Romania's annual inflation rate slightly decreased to 3.4 percent in October 2019, from 3.5 percent in September, in the context of food stuff prices increasing 4.16 percent and those of non-food goods by 2.57 percent, while the price of services recorded an advance of 4.14 percent, according to the data published by the National Institute of Statistics (INS) on Tuesday.
The deficit in Romania's FOB /CIF trade balance reached 12.045 billion euros in the first nine months of 2019, higher by 2.089 billion euros y-o-y, according to data published by the National Institute of Statistics (INS) on Monday. According to INS, in the first nine months of 2019, the FOB exports amounted to 51846.7 million euro and the CIF imports amounted to 63891.7 million euro.
Fitch Ratings has affirmed Romania's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, according to a Friday release of the credit ratings and research agency. Romania's Country Ceiling was affirmed at 'BBB+', Short-Term Foreign-Currency IDR affirmed at 'F3' and Short-Term Local-Currency IDR affirmed at 'F3', according to the release.